1. a. What were Target’s Net earnings for 2015 (the year ended January 30, 2016)
2. b. Did Target’s net earnings increase or decrease from 2014 to 2015, and by how much?
3. c. Which of the following has the largest percentage change from 2014 to 2015: net sales; cost of sales; or selling, general, and administrative expenses? Show all computations.
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For the Fiscal Year 2017 2016 As Adjusted ) 2015 (millions, except per share data) 2018 As Adjusted As Adjusted () 2014 Sales 74,433 $ 71,786 $ 69,414 $ 73,717 $ 72,618 Total revenue 75,356 72,714 70,271 74,494 72,618 Net Earnings/ (Loss) 2,930 Continuing operations Discontinued operations 2,908 2,666 3,321 2,449 7 6 68 42 (4,085) Net earnings / (loss) 2,937 2,914 2,734 3,363 (1,636) Basic Earnings / (Loss) Per Share 5.32 5.29 Continuing operations Discontinued operations 5.54 4.61 3.86 0.01 0.01 0.12 0.07 (6.44) Basic earnings / (loss) per share 5.55 5.32 4.73 5.35 (2.58) Diluted Earnings / (Loss) Per Share Continuing operations Discontinued operations 5.50 5.29 4.58 5.25 3.83 0.01 0.01 0.12 0.07 (6.38) Diluted earnings / (loss) per share 5.51 5.29 4.69 5.31 (2.56) Cash dividends declared per share 2.54 2.46 2.36 2.20 1.99 As of February 3, 2018 As Adjusted 40,303 January 28, 2017 As Adjusted ) February 2, 2019 January 30, 2016 January 31, 2015 Total assets 41,290 38,724 40,262 41,172 Long-term debt, including current portion 11,275 11,398 12,591 12,760 12,725 %24 For the Fiscal Year 2017 2016 As Adjusted ) 2015 (millions, except per share data) 2018 As Adjusted As Adjusted () 2014 Sales 74,433 $ 71,786 $ 69,414 $ 73,717 $ 72,618 Total revenue 75,356 72,714 70,271 74,494 72,618 Net Earnings/ (Loss) 2,930 Continuing operations Discontinued operations 2,908 2,666 3,321 2,449 7 6 68 42 (4,085) Net earnings / (loss) 2,937 2,914 2,734 3,363 (1,636) Basic Earnings / (Loss) Per Share 5.32 5.29 Continuing operations Discontinued operations 5.54 4.61 3.86 0.01 0.01 0.12 0.07 (6.44) Basic earnings / (loss) per share 5.55 5.32 4.73 5.35 (2.58) Diluted Earnings / (Loss) Per Share Continuing operations Discontinued operations 5.50 5.29 4.58 5.25 3.83 0.01 0.01 0.12 0.07 (6.38) Diluted earnings / (loss) per share 5.51 5.29 4.69 5.31 (2.56) Cash dividends declared per share 2.54 2.46 2.36 2.20 1.99 As of February 3, 2018 As Adjusted 40,303 January 28, 2017 As Adjusted ) February 2, 2019 January 30, 2016 January 31, 2015 Total assets 41,290 38,724 40,262 41,172 Long-term debt, including current portion 11,275 11,398 12,591 12,760 12,725 %24

Answer rating: 100% (QA)

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